Fund Detail

InvestEd Fixed Income Portfolio

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$9.97 NAV as of 11/15/2018
$0.00 / 0.00% Daily NAV Change
-0.30% YTD (NAV) as of 11/15/2018 i

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Fund Summary

To seek to provide capital preservation.
The Portfolio net assets will be invested 100% in bond funds. The Portfolio is designed for investors who seek capital preservation from their investments, through a primary emphasis on income. The Portfolio can experience negative returns given its investment flexibility. The Portfolio is also designed for investors who are currently incurring expenses related to higher education.
Morningstar Style Box
Value Blend Growth
Large
Medium
Small
LTD MOD EXT
High
Medium
Low
Portfolio Management
  • Chace Brundige, CFA

    • — Ivy Investment Management Company
    • — 1 Years with Fund
    • — 25 Years in Industry
  • Aaron D. Young

    • — Ivy Investment Management Company
    • — 1 Years with Fund
    • — 13 Years in Industry
  • W. Jeffery Surles, CFA

    • — Ivy Investment Management Company
    • — <1 Years with Fund
    • — 17 Years in Industry
Growth of a $10,000 Investment through 10/31/2018

Assumes an investment over 10 years or life of the share class, reinvestment of dividends and capital gains, and does not include the effect of sales charges or taxes.

Documents
Fact Sheet
Prospectus
Summary Prospectus
Statement of Additional Information
Annual Report
Semi-Annual Report
Quarterly Commentary
XBRL
Daily Prices as of 11/15/2018
Net Asset Value (NAV) $9.97  
Daily NAV Change $0.00 0.00%
Weekly NAV Change $0.02 0.20%
Public Offering Price (POP) $10.23
Fund Facts
Ticker Symbol WFXPX
CUSIP 46132D600
Fund Code 806
Fund Type InvestEd
Fund Inception 9/18/2017
Class Inception 9/18/2017
Fiscal Year End December
Dividends Paid December
Fund Assets
(as of 10/31/2018)
$46.6 mil
Portfolio Turnover Rate
(as of 6/30/2018)
22%
Morningstar Category Short-Term Bond
Lipper Category General Bond Funds
Benchmark75% BBgBarc US Govt/Credit 1-5 Yr TR USD; 25% BBgBarc US Universal TR USD
BenchmarkBBgBarc US Govt/Credit 1-5 Yr TR USD
BenchmarkBBgBarc US Universal TR USD

Fund Performance

Data quoted is past performance and current performance may be lower or higher. Past performance is no guarantee of future results. Investment return and principal value of an investment will fluctuate, and shares, when redeemed, may be worth more or less than their original cost.

All Ivy InvestEd 529 Plan investment options except Ivy Government Money Market Fund shares are charged a front-end sales load of 2.50% for purchases up to $250,000. Ivy Government Money Market Fund does not have a front-end sales load. For Breakpoints and Rights of Accumulation see the Ivy InvestEd 529 Plan Program Overview. An annual $20 account maintenance fee is not included in the calculations.

Monthly Rates of Return Average Annual Total Returns as of 10/31/2018

(Returns for periods of less than 1-yr are not annualized)
YTD 1YR 3YR 5YR 10YR LIFE
Portfolio at NAV -0.40% -0.50% N/A N/A N/A -0.36%
Portfolio with 2.50% sales charge -2.92% -3.02% N/A N/A N/A -2.62%
75% BBgBarc US Govt/Credit 1-5 Yr TR USD; 25% BBgBarc US Universal TR USD -0.58% -0.70% 0.99% 1.29% 2.87% -
BBgBarc US Govt/Credit 1-5 Yr TR USD -0.02% -0.29% 0.78% 1.00% 2.32% -
BBgBarc US Universal TR USD -2.23% -1.95% 1.59% 2.16% 4.51% -
Morningstar Short-Term Bond 0.40% 0.32% 1.29% 1.14% 2.72% -

Quarterly Rates of Return Average Annual Total Returns as of 9/30/2018

(Returns for periods of less than 1-yr are not annualized)
YTD 1YR 3YR 5YR 10YR LIFE
Portfolio at NAV -0.30% -0.30% N/A N/A N/A -0.29%
Portfolio with 2.50% sales charge -2.83% -2.83% N/A N/A N/A -2.74%
75% BBgBarc US Govt/Credit 1-5 Yr TR USD; 25% BBgBarc US Universal TR USD -0.41% -0.53% 1.04% 1.43% 2.78% -
BBgBarc US Govt/Credit 1-5 Yr TR USD -0.07% -0.38% 0.72% 1.06% 2.30% -
BBgBarc US Universal TR USD -1.41% -1.00% 1.98% 2.53% 4.22% -
Morningstar Short-Term Bond 0.45% 0.43% 1.36% 1.24% 2.52% -

Calendar Year Return

201320142015201620172008200920102011201220032004200520062007
75% BBgBarc US Govt/Credit 1-5 Yr TR USD; 25% BBgBarc US Universal TR USD- - - - 1.97 - - - - - - - - - -
BBgBarc US Govt/Credit 1-5 Yr TR USD0.28 1.42 0.97 1.56 1.27 5.13 4.62 4.08 3.14 2.24 3.35 1.85 1.44 4.22 7.27
BBgBarc US Universal TR USD-1.35 5.56 0.43 3.91 4.09 2.38 8.60 7.16 7.40 5.53 - 4.97 2.72 4.97 6.50

Morningstar Ranking through 10/31/2018

Category: Short-Term Bond

  Rank Percentile
1 Year 433 /536 86

Morningstar Ranking / # of Funds in Category displays the fund's actual rank within its Morningstar Category based on average annual total return and number of Funds in that Category. The Morningstar Percentile Ranking compares a Fund's Morningstar risk and return scores with all the Funds in the same Category, where 1% = Best and 100% = Worst.

Expense Ratios as of 4/30/2018

Net 0.74%
Gross 0.74%

Growth of a $10,000 Investment through 10/31/2018

Assumes an investment over 10 years or life of the share class, reinvestment of dividends and capital gains, and does not include the effect of sales charges or taxes.

Fund Distributions

Historical Prices Inception 9/18/2017

Date Price Dividend Reinvest Date Capital Gain Reinvest Date

12-Month Trailing Dist. Yield as of 10/31/2018

NAV 0.00%
With Sales Charge 0.00%

Fund Documents

Top 10 Industry Allocation (as a % of Equity Holdings as of 10/31/2018)
Diversified Banks 57.3%
Health Care REITs 41.2%
Investment Banking & Brokerage 1.5%
Fixed Income Country Allocation (as a % of bond holdings as of 10/31/2018)
United States 93.2%
Japan 1.6%
Netherlands 1.2%
Canada 1.1%
Sweden 0.5%
United Kingdom 0.3%
Mexico 0.2%
Norway 0.2%
Columbia 0.2%
Argentina 0.2%
Indonesia 0.2%
Brazil 0.1%
Luxembourg 0.1%
Cayman Islands 0.1%
Singapore 0.1%
Chile 0.1%
India 0.1%
Bermuda 0.1%
Ireland 0.1%
China 0.1%
Australia 0.1%
Turkey 0.1%
Qatar 0.1%
United Arab Emirates 0.1%
France 0.0%
Russia 0.0%
South Korea 0.0%
Saudi Arabia 0.0%
Austria 0.0%
Denmark 0.0%
Peru 0.0%
Poland 0.0%
Hong Kong 0.0%
Switzerland 0.0%
Macau 0.0%
Spain 0.0%
Guernsey 0.0%
Portfolio Allocation Ranges (as of the most recent prospectus)
Low High
Ivy Limited-Term Bond Fund 0.0 % 100.0 %
Ivy Government Money Market Fund 0.0 % 70.0 %
Ivy Government Securities Fund 1 0.0 % 10.0 %
Ivy Corporate Bond Fund 1 0.0 % 10.0 %
Ivy High Income Fund 0.0 % 10.0 %
Ivy Securian Core Bond Fund 0.0 % 10.0 %
Ivy ProShares Interest Rate Hedged High Yield Index Fund 0.0 % 10.0 %
Ivy Global Bond Fund 0.0 % 10.0 %
Ivy Apollo Strategic Income Fund 0.0 % 10.0 %
Ivy ProShares S&P 500 Bond Index Fund 0.0 % 10.0 %
Sector Allocation as a % of equity assets as of 10/31/2018
Financials 58.78%
Real Estate 41.22%
Quality as a % of fixed income assets as of 10/31/2018
Government Bonds 54.30%
NonRated 0.30%
AAA 1.70%
AA 3.10%
A 12.50%
BBB 24.10%
BB 2.60%
B 1.40%
CCC 0.00%
Below CCC 0.00%

Quality: Our preference is to always use ratings obtained from Standard & Poor's, Moody’s, and Fitch. It is each Portfolio’s general policy to classify such security at the lower rating level if only two ratings are available. If more than two ratings are available and a median exists, the median is used. If more than two ratings exist without a median, the lower of the two middle ratings is used. We do not evaluate these ratings, but simply assign them to the appropriate credit quality category as determined by the rating agency.

Portfolio Composition as a % of net assets as of 10/31/2018
Government Bonds 39.26%
Corporate Bonds 28.54%
Cash and Cash Equivalents 27.70%
Asset-Backed Securities 1.40%
General Obligation Bonds 1.35%
Mortgage-Backed Securities 1.05%
Other Government Securities 0.48%
Revenue Bonds 0.18%
Preferred Stock 0.02%
Foreign Common Stock 0.02%
Equity Country Allocation as a % of equity assets as of 10/31/2018
Panama 57.3%
United States 42.7%
Underlying Fund Composition as a % of net assets as of 10/31/2018
Ivy Limited-Term Bond 62.9 %
Ivy Government Money Market 17.5 %
Ivy Government Securities 9.9 %
Ivy Securian Core Bond 5.4 %
Ivy Global Bond 2.9 %
Ivy Corporate Bond 1.0 %

Fund Documents

Documents

Fact Sheet
Prospectus
Summary Prospectus
Statement of Additional Information
Annual Report
Semi-Annual Report
Quarterly Commentary
XBRL

Additional Fund Literature

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Data quoted is past performance and current performance may be lower or higher. Past performance is no guarantee of future results. Investment return and principal value of an investment will fluctuate, and shares, when redeemed, may be worth more or less than their original cost.

Past performance is not a guarantee of future results. Investments into a 529 plan, including the Ivy InvestEdSM 529 Plan, are not guaranteed, and all investments involve a certain degree of risk. The value of your Ivy InvestEdSM 529 Plan account will depend upon the performance of the Portfolios in which your account is invested and the Portfolio’s share price will likely change based on the performance of the underlying funds in which it invests.

The bond funds in which the Portfolio invests are subject to interest rate risk and, as such, the net asset value of the Portfolio may fall as interest rates rise. Investing in below investment grade securities may carry a greater risk of nonpayment of interest or principal than higher-rated bonds. Foreign investing involves additional risks, including currency fluctuations, political or economic conditions affecting the foreign country, and differences in accounting standards and foreign regulations. These risks are magnified in emerging markets. These and other risks are more fully described in the Portfolio's prospectus.

You could lose money by investing in the Ivy Government Money Market Fund. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund's sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time.

Before investing, investors should carefully consider the investment objectives, risks, charges and expenses of the Ivy InvestEdSM 529 Plan. This and other information is found in the InvestEdSM Portfolios prospectus, and the Ivy Funds prospectus, the Ivy InvestEdSM 529 Plan Program Overview, and the InvestEdSM 529 Plan Account Application. All of these items are available from these links or from a financial advisor. Please read the prospectus carefully before investing.

Before investing, non-residents or tax-payers of states other than Arizona should consider whether the investor's or designated beneficiary's home state offers any state tax or other state benefits such as financial aid, scholarship funds, and protection from creditors than those offered under the Ivy InvestEdSM 529 Plan. Please consult your tax advisor regarding your personal tax situation.

The Ivy InvestEdSM 529 Plan and shares of InvestEdSM Portfolios are offered by Waddell & Reed, Inc. as part of the Arizona Family College Savings Program Trust Fund, a 529 plan administered by the Arizona Commission for Postsecondary Education (the “Program”). Waddell & Reed, Inc. is one of multiple financial Institutions eligible to offer Investments under the Program. Accounts a not insured by the State of Arizona, the Trust, the Arizona Commission for Postsecondary Education, or any other governmental entity, Waddell & Reed, Inc., Ivy Distributors, Inc., or any affiliated or related party, and neither the principal deposited nor the Investment return is guaranteed by any of the referenced parties.

Index Description: The Bloomberg Barclays U.S. Universal Index represents the union of the U.S. Aggregate Index, the U.S. High-Yield Corporate Index, the 144A Index, the Eurodollar Index, the Emerging Markets Index, and the non-ERISA portion of the CMBS Index. Municipal debt, private placements, and non-dollar-denominated issues are excluded from the Universal Index. The only constituent of the index that includes floating-rate debt is the Emerging Markets Index. Source: Bloomberg Barclays

Index Description: The Bloomberg Barclays U.S. 1-5 Year Government/Credit Bond Index is the 1-5 year component of the Bloomberg Barclays U.S. Government/Credit Index, which includes treasuries, agencies, publicly issued U.S. corporate and foreign debentures & secured notes. To be included in the index, securities must have at least one, and up to, but not including five years to maturity. Source: Bloomberg Barclays

1Waddell & Reed Advisors (WRA) Bond Fund merged into Ivy Bond Fund on Oct. 16, 2017. The returns shown prior to this date reflect the performance of WRA Bond Fund, which was incepted on March 30, 1964. Ivy Bond Fund adopted that performance as the result of a reorganization in which it acquired all assets and liabilities of WRA Bond Fund. Prior to the reorganization, the Ivy Bond Fund had no assets and had not commenced operations. Performance shown after Jan. 31, 2012, may significantly differ from prior performance due to changes made on that date to WRA Bond Fund's investment strategies. WRA Bond Fund's past performance does not necessarily indicate how Ivy Bond Fund will perform in the future. Waddell & Reed Advisors (WRA) Government Securities Fund merged into Ivy Government Securities Fund on Oct. 16, 2017. The returns shown prior to this date reflect the performance of WRA Government Securities Fund, which was incepted on April 10, 1984. Ivy Government Securities Fund adopted that performance as the result of a reorganization in which it acquired all assets and liabilities of WRA Government Securities Fund. Prior to the reorganization, the Ivy Government Securities Fund had no assets and had not commenced operations. Performance shown after Jan. 31, 2012, may significantly differ from prior performance due to changes made on that date to WRA Government Securities Fund's investment strategies. WRA Government Securities Fund's past performance does not necessarily indicate how Ivy Government Securities Fund will perform in the future.

W. Jeffery Surles, CFA, became a co-portfolio manager on the Portfolio on Feb. 5, 2018.

Pricing: All prices and year-to-date returns are based on closing quotes unless noted, as supplied to the NASDAQ by 6:00 p.m. Eastern time. YTD Prices can be updated 3 to 4 hours after the Daily Pricing information which can result in mismatching data.

Style Analysis: The Morningstar Style Box reveals a fund's investment style. For equity funds the vertical axis shows the market capitalization of the stocks owned and the horizontal axis shows investment style (value, blend, or growth). For fixed-income funds, the vertical axis shows the credit quality of the bonds owned and the horizontal axis shows interest rate sensitivity as measured by a bond's effective duration. Morningstar seeks credit rating information from fund companies on a periodic basis (e.g., quarterly). In compiling credit rating information, Morningstar instructs fund companies to only use ratings that have been assigned by the following Nationally Recognized Statistical Rating Organizations (NRSROs): Moody's, Standard & Poor's, Fitch, and Egan-Jones. If two NRSROs have rated a security, fund companies are to report the lowest rating; if three or more NRSROs have rated the same security differently, fund companies are to report the rating that is in the middle. For example, if NRSRO X rates a security AA-, NRSRO Y rates the same security an A and NRSRO Z rates it a BBB+, the fund company should use the credit rating of 'A' in its reporting to Morningstar. PLEASE NOTE: Morningstar, Inc. is not itself an NRSRO nor does it issue a credit rating on the fund. An NRSRO rating on a fixed-income security can change from time-to-time. For credit quality, Morningstar combines the credit rating information provided by the fund companies with an average default rate calculation to come up with a weighted-average credit quality. The weighted-average credit quality is currently a letter that roughly corresponds to the scale used by a leading NRSRO. Bond funds are assigned a style box placement of "low", "medium", or "high" based on their average credit quality. Funds with a low credit quality are those whose weighted-average credit quality is determined to be less than "BBB-"; medium are those less than "AA-", but greater or equal to "BBB-"; and high are those with a weighted-average credit quality of "AA-" or higher. When classifying a bond portfolio, Morningstar first maps the NRSRO credit ratings of the underlying holdings to their respective default rates (as determined by Morningstar's analysis of actual historical default rates). Morningstar then averages these default rates to determine the average default rate for the entire bond fund. Finally, Morningstar maps this average default rate to its corresponding credit rating along a convex curve. For interest-rate sensitivity, Morningstar obtains from fund companies the average effective duration. Generally, Morningstar classifies a fixed-income fund's interest-rate sensitivity based on the effective duration of the Morningstar Core Bond Index (MCBI), which is currently three years. The classification of Limited will be assigned to those funds whose average effective duration is between 25% to 75% of MCBI's average effective duration; funds whose average effective duration is between 75% to 125% of the MCBI will be classified as Moderate; and those that are at 125% or greater of the average effective duration of the MCBI will be classified as Extensive. For municipal bond funds, Morningstar also obtains from fund companies the average effective duration. In these cases static breakpoints are utilized. These breakpoints are as follows: (i) Limited: 4.5 years or less; (ii) Moderate: more than 4.5 years but less than 7 years; and (iii) Extensive: more than 7 years. In addition, for non-US taxable and non-US domiciled fixed income funds static duration breakpoints are used: (i) Limited: less than or equal to 3.5 years; (ii) Moderate: greater than 3.5 and less than equal to 6 years; (iii) Extensive: greater than 6 years.

Unsubsidized yields reflect what the yield would have been without the effect of reimbursements and waivers. The adviser and its affiliates have or may voluntarily waive a portion of their fees (including, but not limited to, distribution and service (12b-1) fees) and reimburse certain expenses. There is no guarantee that the fund will avoid a negative yield. Such undertaking may be amended or withdrawn at any time.

12-Month Trailing Distribution Yield: at NAV refers to the 12-month historical cash flow paid over the past 12 months in dividends, divided by the past months ending NAV.

The Morningstar Rating™ for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance, and does not include the effects of sales charges. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.

© 2018 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

Quality: Our preference is to always use ratings obtained from Standard & Poor's, Moody’s, and Fitch. It is each Portfolio’s general policy to classify such security at the lower rating level if only two ratings are available. If more than two ratings are available and a median exists, the median is used. If more than two ratings exist without a median, the lower of the two middle ratings is used. We do not evaluate these ratings, but simply assign them to the appropriate credit quality category as determined by the rating agency.

Information is subject to change and is not intended to represent any past or future investment recommendations.

Co-Portfolio Manager Cynthia Prince-Fox retired from the firm on April 30, 2018.